Eligible HQ Real Estate

Eligible HQ Real Estate. Shall mean the Real Property owned by Parent in fee simple on the date hereof and included in an appraisal of such Real Property received by Agent in accordance with the reasonable requirements of Agent located at 1521 Poplar Lane, Forest Grove, Oregon (but excluding the portion thereof constituting Surplus Real Property), so long as (A) such Real Property is owned and operated by a Borrower; (B) such Real Property is not subject to a security interest, lien or mortgage or other encumbrance in... favor of any person other than Agent, except those permitted hereunder that are subject to an intercreditor agreement in form and substance satisfactory to Agent between the holder of such lien and Agent or are otherwise acceptable to Agent; (C) such Real Property is subject to the valid and enforceable, first priority, perfected security interest, lien and mortgage of Agent; and (D) such Real Property does not become subject to any issues relating to compliance with Environmental Laws that in the determination of Agent adversely affect in any material respect the value thereof or the ability of Agent to sell or otherwise dispose thereof (but subject to the right of Agent to establish Reserves after the date hereof to reflect such adverse affect). View More